Welcome fellow Tradingviewers,
In this analyses we are going to show you our view on the current market situation for Litecoin.
We will be analysing LTC using a top-down strategy, including candlestick patterns, indicators and price patterns.
Monthly:
- The monthly close was a bullish engulfing candle.
- We are still below all Ma's
- MACD is still bearish (with potential)
Weekly:
- We had a darth maul close. (showing indecisiveness)
- Litecoin just missed becoming a bullish engulfing on this weekly.
- Bullish MACD divergence.
- MACD in bullish territory.
- Below all MA's.
Daily:
- The last couple of signals (boxed) we're hard to read but seemed bullish, we had a bullish engulfing, then an inside candle and a bullish engulfing darth maul candle where we tested the 200 MA.
- We are above 100 and 200 MA.
- MACD is bullish.
In summary:
The monthly close for LTC seems to be indicating more bullish momentum, we do however first need extra validation before thinking of way higher grounds.
LTC has been lagging behind in the market at the moment, last month LTC even declined to the 10th place in all cryptocurrencies, where in the previous Bullruns, LTC led the market.
LTC hashrate seems to be climbing back towards normal levels.
The Weekly bullish MACD divergence seems real and if this continues upwards then we might start to think about a possible trendreversal.
The Daily signals also seem pretty bullish.
The short term is bullish but for the longer term we still need confirmation!
So LTC has not given up yet and there are some signals that LTC might start following the rest of the market sooner than later, however nothing is decided yet so this month should be an interesting one!
This analyses is only intended to share my idea, to educate and entertain you guys.
This should not be considered as financial advice.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like!
If you want to share your thoughts, please do so in the comments below!
Kind Regards,
Frank | Forallcrypto
In this analyses we are going to show you our view on the current market situation for Litecoin.
We will be analysing LTC using a top-down strategy, including candlestick patterns, indicators and price patterns.
Monthly:
- The monthly close was a bullish engulfing candle.
- We are still below all Ma's
- MACD is still bearish (with potential)
Weekly:
- We had a darth maul close. (showing indecisiveness)
- Litecoin just missed becoming a bullish engulfing on this weekly.
- Bullish MACD divergence.
- MACD in bullish territory.
- Below all MA's.
Daily:
- The last couple of signals (boxed) we're hard to read but seemed bullish, we had a bullish engulfing, then an inside candle and a bullish engulfing darth maul candle where we tested the 200 MA.
- We are above 100 and 200 MA.
- MACD is bullish.
In summary:
The monthly close for LTC seems to be indicating more bullish momentum, we do however first need extra validation before thinking of way higher grounds.
LTC has been lagging behind in the market at the moment, last month LTC even declined to the 10th place in all cryptocurrencies, where in the previous Bullruns, LTC led the market.
LTC hashrate seems to be climbing back towards normal levels.
The Weekly bullish MACD divergence seems real and if this continues upwards then we might start to think about a possible trendreversal.
The Daily signals also seem pretty bullish.
The short term is bullish but for the longer term we still need confirmation!
So LTC has not given up yet and there are some signals that LTC might start following the rest of the market sooner than later, however nothing is decided yet so this month should be an interesting one!
This analyses is only intended to share my idea, to educate and entertain you guys.
This should not be considered as financial advice.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like!
If you want to share your thoughts, please do so in the comments below!
Kind Regards,
Frank | Forallcrypto